Alexander And Kline Give Statement On Student Loan Interest Rate Report

Friday, January 31, 2014

Senator Lamar Alexander and House Education and the Workforce Committee Chairman John Kline (R-Mn.) issued the following joint statement after the Government Accountability Office (GAO) released a report on federal student loan interest rates:

“Today’s GAO report makes it clear that Congress was exactly right to tie student loan interest rates to market rates, because that is the fairest way to ensure the loans don’t overcharge either students or taxpayers. The Bipartisan Student Loan Certainty Act cut interest rates for undergraduate loans nearly in half and made all student loans cheaper, simpler and more certain.”

The Bipartisan Student Loan Certainty Act (also known as the Smarter Solutions for Students Act) included a provision directing the GAO to provide information on issues related to the cost of federal student loans. Specifically, the report was intended to help members of Congress determine whether there was an ideal federal student loan interest rate that would ensure the government could cover Direct Loan costs without generating excess revenue. To read the full report, entitled “Borrower Interest Rates Cannot Be Set in Advance to Precisely and Consistently Balance Federal Revenues and Costs,” click here.


Cleveland State's Continuing Education Department Announces Fall Line Up

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UTC's Brown Recognized For Public Service

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Rescuers Carry Injured 15-Year-Old Boy Out Of Pocket Wilderness

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Make America Good Again

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Roy Exum: Jerika’s Last Dance

There is a horrifying disease called spinal muscular atrophy type 2 that you wouldn’t wish on your worst enemy. What happens is the nerve cells in a person’s brain stem and spinal cord slowly die and, without the ability to voluntarily control your muscles, your body withers away in one of the most painful ways you can imagine. Jerika Bolen, age 14, can’t stand it any longer, nor ... (click for more)